Mullen Automotive Inc. [MULN] is -84.06% lower this YTD. Is it still time to buy?

Mullen Automotive Inc. [NASDAQ: MULN] surged by $0.01 during the normal trading session on Friday and reaching a high of $0.86 during the day while it closed the day at $0.83. The company report on August 9, 2022 that Mullen Automotive Announces Preliminary Third Quarter Results.


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Company has strongest balance sheet ever with approximately $99 million cash on hand and in cash equivalents as of Aug. 8, 2022.

Mullen Automotive Inc. stock has also loss -2.35% of its value over the past 7 days. However, MULN stock has declined by -3.74% in the 3 months of the year. Over the past six months meanwhile, it has lost -51.80% and lost -84.06% year-on date.

The market cap for MULN stock reached $390.90 million, with 51.39 million shares outstanding. Compared to the average trading volume of 62.54M shares, MULN reached a trading volume of 88983016 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Mullen Automotive Inc. [MULN]:

The Average True Range (ATR) for Mullen Automotive Inc. is set at 0.08 The Price to Book ratio for the last quarter was 0.87, with the Price to Cash per share for the same quarter was set at 0.14.

MULN stock trade performance evaluation

Mullen Automotive Inc. [MULN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.35. With this latest performance, MULN shares dropped by -20.59% in over the last four-week period, additionally sinking by -51.80% over the last 6 months – not to mention a drop of -92.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MULN stock in for the last two-week period is set at 40.14, with the RSI for the last a single of trading hit 40.52, and the three-weeks RSI is set at 41.14 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 1.0895, while it was recorded at 0.8101 for the last single week of trading, and 3.2712 for the last 200 days.

Mullen Automotive Inc. [MULN]: An insightful look at the core fundamentals

Mullen Automotive Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.

Mullen Automotive Inc. [MULN]: Insider Ownership positions

There are presently around $26 million, or 2.20% of MULN stock, in the hands of institutional investors. The top three institutional holders of MULN stocks are: VANGUARD GROUP INC with ownership of 12,719,786, which is approximately 1074.802% of the company’s market cap and around 1.60% of the total institutional ownership; BLACKROCK INC., holding 7,874,497 shares of the stock with an approximate value of $6.57 million in MULN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.22 million in MULN stock with ownership of nearly 3489.552% of the company’s market capitalization.

Positions in Mullen Automotive Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 59 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 27,686,080 shares. Additionally, 15 investors decreased positions by around 1,489,716 shares, while 13 investors held positions by with 1,598,554 shares. The mentioned changes placed institutional holdings at 30,774,350 shares, according to the latest SEC report filing. MULN stock had 37 new institutional investments in for a total of 3,492,217 shares, while 10 institutional investors sold positions of 1,260,879 shares during the same period.

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